Holiday Raffles To Improve Lottery Gambling Revenue

Gambling News - November 16th, 2009 - Written by Glen

While most forms of gambling have taken a hit in terms of revenue, state lotteries have seen relative consistency throughout the recession. As a yearly event, many states offer raffles which promise one new millionaire, and these usually take place around the last major holidays in the year - Thanksgiving and the religious holidays of December.

One of the main states exercising this sort of event if Florida. Florida hosts their Holiday Millionaire Raffle each year, with the 2009 edition offering nine prizes of $1,000,000 dollars. Nine players are guaranteed to become millionaires, all at the risk of $20 dollars per ticket. Ten players will also be eligible for the $1 million, should the main winners not claim their money. Otherwise, these second place winners will take home a $50,000 dollar prize. Fifteen players will subsequently win $5,000 dollars, while $250 dollars will go to the remaining 2,000 lucky players. Only one million tickets are to be sold, with overall odds of 1 in 492, should each ticket be sold. Last year sold out before the earliest days of Christmas, making this a hot affair for all players who wish to take home a $1 million dollar prize.

Arizona, like Florida, is holding a Millionaire Raffle. This is their fifth event of this magnitude, though smaller in scope than Florida's raffle. Arizona lottery will offer players $20 dollar tickets, but only 300,000 compared to Florida's 1,000,000 tickets. One prize of $1 million dollars will be given to the main winner, while the rest of the earnings will trickle down to the players. Six players will receive $100,000, forty will take $10,000, while 750 players will take a whopping $1,000 dollars home.

This Holiday Events, which are taking place in various states around the USA, are enabling those states with lotteries who have seen reduced revenues to draw some reprieve at the end of the year. Most states who have lotteries use their revenue to fund education, which can never use too much funding. These raffles are expected to bring in millions of dollars for their respective states, both through sales and tax revenue. Whether players need a break from legal Online Casino Gambling for USA Players or they simply want the best odds at winning $1 million dollars, these raffles will prove bountiful for many players.

Check with a local lottery retailer to ascertain whether or not your state of residence will host a raffle.

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